The Federal Government has moved to calm frayed nerves amidst the ongoing fuel scarcity, cautioning citizens against “panic buying” of petrol.
The Minister of State for Petroleum Resources, Heineken Lokpobiri, took to his X handle on Thursday to reassure the public that the government has “sufficient product” in the country.
President Bola Tinubu is reportedly “deeply concerned” about the hardship faced by Nigerians, prompting Vice President Kashim Shettima to convene a meeting to address the situation.
Lokpobiri said: “We want to reassure the public that there is sufficient fuel supply in the country, and by the weekend, we expect products to be available nationwide.”
He noted that while prices may vary in different regions, we believe that once distribution stabilizes, prices will regulate naturally.”
He reiterated that “the government is not fixing prices, as the sector is deregulated.”
Lokpobiri urged Nigerians to remain calm, stating that “there is no need for panic buying, as supply is adequate.”
He added that our primary message to Nigerians is that, we are working hard to ensure that the situation normalizes quickly, and prices will stabilize as product availability improves.”
Our correspondent reports that fuel scarcity has had a devastating impact on businesses and households, with commercial buses, taxi cab drivers, and commercial motorcycle riders increasing fares.
Black marketers have crashed in on the fuel price hike to sell at exorbitant prices ranging from N1,000 to N1,200 or even N1,500 per liter as the case may be in some states.
(The Reporter)
